What is Set Of Averages Indicator?
Set_Of_Averages is an MT5 chart indicator that plots multiple moving averages in one overlay. Periods, average methods, price sources, shifts, colors, and widths control the displayed set.
The lines provide a compact way to compare smoothing speeds and price location across several windows. They are visual references rather than a fixed trend conclusion.
How to Use It in Practice
Read the eight color-coded moving averages as a set, then compare their spacing and order with the candle structure on the same chart:
- Read the eight color-coded moving averages together, then compare their spacing and order across the chart.
- Use Periods of all MA to change the list of calculation lengths.
- To approximate a higher-timeframe average on a lower-timeframe chart, multiply each period by the timeframe ratio, as in the M1-to-M5 and M15-to-H1 examples.
Several averages share one chart, different smoothing speeds can be compared directly, and styling keeps the set readable.
MT5 Indicator Parameters
The screenshot above shows the default input parameters in the MT5 settings window.
| Parameter | Description |
|---|---|
| Calculated method MA | Specifies the type of moving average to be used, such as Simple, Exponential, or Smoothed. This determines how each average is calculated based on past price data. |
| Calculated price MA | Defines which price point is used in the MA calculation, such as Close, Open, High, or Low prices. |
| Periods of all MA | Lists the periods for each moving average, separated by commas. Each value represents a different MA line plotted on the chart. For example, “10,20,30…” means MAs of 10, 20, and 30 periods are displayed together. |
